NFL Rule Forces Commanders Owners Josh Harris & David Blitzer to Sell 5% Stake in the Steelers

The Pittsburgh Steelers ownership dynamics are set to change in 2024. According to a Bloomberg report, Josh Harris and David Blitzer are amid discussions to sell their 5% stake in the team. The deal will be made to an investor group owned by the Steelers founder Art Rooney and billionaire businessman Thomas Tull. These discussions come after their move to buy ownership shares in the Washington Commanders last year, which binds them to sell their Steelers’ shares per the NFL’s policy.

According to the NFL’s rules, if someone owns a majority stake in a team, they cannot own stakes in multiple team franchises. Harris and Blitzer had purchased the Commanders in a deal worth almost $6 billion, which makes them the majority stake owner. Hence, the NFL provided them with a “grace period” to sell their 5% shares of the Steelers. With this recent report, it seems that their search for buyers has finally ended.

The NFL is yet to approve the decision. While the exact details of the proposed deal remain unknown, Bloomberg’s source revealed that the change might be finalized in the next few months.

“The transaction, which requires approval from the National Football League, may be finalized in the coming months, said the people, all of whom requested anonymity discussing confidential information,” the report read, “Financial terms couldn’t be immediately learned.”

Blitz and Harris had purchased the Steeler’s share in 2020 for an amount of $140 million, as per Bloomberg. It was reported that they were signed to be “passive investors alongside the Rooney family, with no input on operations.”

Josh Harris and David Blitzer bought the Commanders with high hopes

In 2023, the previous long-time owner of the Commanders, Dan Snyder, sold the team to Harris Blitzer Sports & Entertainment. The deal was worth a record sum of $6.05 billion, the highest for any American sports franchise at the time. Josh Harris has a connection to Washington DC, having grown up in the city. So he well realizes the task he has taken upon his firm. He talked about the responsibility that comes with such a decision, per Sports Pro.

“I feel an awesome responsibility to the city of Washington. I know what I’ve got to do. It comes down to winning. It’s on me and on our ownership group to deliver. That’s what we’re going to do.”

The co-owner further stated that apart from being a team fan, he is aware of the commitment the decision entails. He talked about how the team needs to win championships to do justice to their loyal fanbase.

“This franchise is part of who I am. But being a fan is not enough. To be successful, we need to win championships, create a positive impact on the community, and create incredible memories for our fan base, much like I had as a youth growing up in Washington.”

Read This: Moments After $12M Relief, Chiefs Splurge $19M on Franchise Tagging L’Jarius Sneed as They Prioritize Chris Jones

The Washington Commanders changed owners in 2023. Despite suffering a disappointing 4-13 standing in the season, all hope is not lost for the Burgundy and Gold. They have the No. 2 pick in this year’s NFL Draft. The Commanders hope to replenish their roster with some new energy for an exciting season ahead.